Top ECB banker calls Facebook’s Libra ‘treacherous’

A high-ranking European Central Bank official on Monday outlined problems with the planned cryptocurrency Libra, the latest in a series of warnings from government officials.

“I sincerely hope that the people of Europe will not be tempted to leave behind the safety and soundness of established payment solutions and channels in favour of the beguiling but treacherous promises of Facebook’s siren call,” said Yves Mersch, a member of the ECB’s executive board.